- The best CDs today are boasting up to 4.65% APY – more than twice on the national average for some terms.
- The Fed has stopped rates for now, but cuts are expected next year.
- Blocking a high apy now gives you to protect your profits from upcoming rate cuts.
All CDs are not created equal. While the National average rate For a six-month CD is 1.64%, for example, the top six-month CD we monitor on CNET offers 4.65% annual percent yield. That can make a big difference in how fast your money is growing.
Now that's it Best cds Proud of competitive rates, low minimum deposit requirements and the safety of federal deposit insurance. Read to see some of the highest CD rates available now and how much you can earn by depositing $ 5,000.
The best CD rates today
| Term | Highest apy* | Bank | I estimated to be |
|---|---|---|---|
| 6 months | 4.65% | Communitywide Federal Credit Union | $ 114.93 |
| 1 year | 4.45% | Communitywide Federal Credit Union | $ 222.50 |
| 3 years | 4.15% | America First Credit Union | $ 648.69 |
| 5 years | 4.25% | America First Credit Union | $ 1,156.73 |
Experts recommend comparing rates before opening a CD account to get the best possible of APY. Enter your information below to get the best rate of CNET partners for your area.
Why now is a wise time to open a CD
A CD can be a great place to beat your cash at any time, but in times of inflation like today, they can be useful. As the Federal Reserve enlarges interest rates to combat inflation, banks tend to follow suit, raising APYs to consumer products such as CDs and Saving Accounts.
If you open a CD as the rates remain elevated, you can continue to enjoy the same high return, even if the rates begin to fall because your APY is locked when you open a CD.
But don't wait too long to take advantage of the APY today. While the fed chose that Pausing Rates At its January meeting, experts expect it to cut the rates next year, which means that the clock is frustrating.
“ The Olivier Group. “That was said, with the Fed taking a more careful, wait-and-see approach, CD rates and other safe currency options are likely to remain at high levels for today. “
You can earn up to 5% APY on the best high yield saving accounts. Check Top savings rates Now
How did CD rates change in the past week
| Term | The average CNET of last week | The average CNET of this week | Weekly Change ** |
|---|---|---|---|
| 6 months | 4.10% | 4.09% | -0.24% |
| 1 year | 4.07% | 4.08% | $ 0.00 |
| 3 years | 3.55% | 3.56% | $ 0.00 |
| 5 years | 3.56% | 3.56% | No change |
Things to be considered when comparing CDs
A competitive apy is important, but this is not the only one you should consider. To find the right CD for you, also weigh these things:
- When you will need your money: Early penalties in removal With CDs you can eat your interest profits if you need your money before the term ends, so choose a timeline that makes sense. Alternatively, you can choose a No-penalty CDAlthough APY may not be as high as you want to get to a traditional CD of the same term.
- Minimum Deposit Required: Some CDs require a minimum deposit to open an account, usually $ 500 to $ 1,000. Knowing how much money you need to put aside will help you to narrow down your choices.
- Payment: Maintenance and other fees can be cut off with your savings. Many Online banks Do not charge fees as they have lower overhead costs than banks with physical branches. Read the fine printing for any account you are reviewing.
- Safety and Security: Make sure the bank or Credit union considering you are a member of FDIC or NCUA so your money is protected If the bank fails.
- Ratings and Customer Reviews: Visit sites like Trustpilot to see what customers say about the bank. You want a bank that is responsive, professionally and easy to work with.
Procedure
CNET reviews CD rates based on the latest APY information from the providers of the Provider. We review CD rates from more than 50 banks, credit unions and financial companies. We review CDs based on APYs, product offerings, customer access and services.
Current banks included in CNET's weekly average CDs include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Goldman's Marcus Sachs, MySB Direct, Quontic, The Rising Bank, Synchrony, Everbank, Popular Bank, First Internet Bank of Indiana, America First Federal Credit Union, Communitywide Federal Credit Union, Discover, Bethpage, BMO Alto, Limelight Bank, First National Bank of America and Connexus Credit Union.
*The Aphies in February. 14, 2025, based on the banks we monitor at CNET. The revenues are based on the APYs and assumes interest is combined -Includes year -old.
** Weekly percentage increase/decrease from Feb. 3, 2025, to Feb. 10, 2025.
